Kadenwood, a Newport Beach, Calif.-, plant-based wellness company, raised $50m in cash and media value in a Series B funding round.
Backers included The Craftory and Arcadian Capital Management, and current investors.
The company intends to use the funds to further accelerate scale, strategic partnerships and acquisitions.
Led by Erick Dickens, Co-Founder and CEO, Kadenwood is a U.S. supplier of vertically-integrated CBD consumer packaged goods across major drug and grocery store chains. In just the first half of 2021, the company has made a number of acquisitions, including:
- CBD wellness brands Healist Advanced Naturals to scale quickly providing new retail and e-commerce distribution channels, and
- Social CBD to offer a wider array of products to mass-market consumers across a broad range of demographics.
Its brand portfolio includes LEVEL SELECT™ CBD, in the personal care category, Purity Preferred™ Pet CBD and Purity Organic™ CBD Teas.
In 2020, the company raised $15m in a Series A funding round followed by the acquisition of EcoGen Biosciences, a global manufacturer and supplier of hemp-derived CBD materials and formulations.